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news.Taiwan-based pharmaceutical conglomerate, the Sinphar Group has invested in a pharmaceutical company, MacuCLEAR that specializes in treatment of ocular vascular disorders.
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Both the companies will take charge of developing new drug to treat and stopping the progression of dry Age-related Macular Degeneration (AMD), news.cens.com reported.
The Phase II and III clinical trials for the new drug will be carried on by Sinphar Group’s affiliates in Taiwan.
News.cens.com quoted a Sinphar group senior executive as saying that the deal with MacuCLEAR lays emphasis on the new use for an approved drug.
The new drug development project is subject to Food and Drug Administration (FDA)`s 505(b)(2) fast-track drug type certification, the company added.